I'd short AG but be cautious as it approaches 24 as it may bounce off the highs of 2 and 3 days ago. Cover the position if it breaks above 25.60 (yesterday's high). If it breaks down through that level, keep watching it down to 23 and set your trailing stop for 24 or so. If you insist on going long, it looks like you should wait for a pullback before entering. Or, enter on a break of 25.60 and keep a very tight stop. Good luck.
i was hoping it would break that 25.60 mark since its the 52 wk high, and go long with it since CAT was making a decent run, along with its good earning report... however once it started to bounce off that number and head south, i was looking at a short... just didnt know where to place stops and how much risk i wanted to take on... but you really helped... thanks appreciate it!
One thing though... Since it has been trading in a small range today, I wouldn't short it until it breaks below today's low. I did not look at today's intraday chart so you could find a more specific entry if you'd like. Overall, I would look for other plays if you are interested in shorting since this guy's in such a strong uptrend lately. There are plenty of weak stocks out there that got a little push in the last four days that are ready to give some of it back. I went short on IFIN and MCHP this morning, for example, and have done well so far. Take care, Rich
im thinking about going with a short on SLB, with a stop 38.82... for the same reasons you mentioned above... or MTG breaking 41.40 however not sure which yet since its 12:45...
id love to however for the time being im limited to only big board issues... after this month is over i can do all exchanges and etc.